3 ms·
Where can you afford to rent in California?
- iandanforth 9y agoWhy is this 30% of gross income? I thought the target was 33% of net.
- aphextron 9y ago>Why is this 30% of gross income? I thought the target was 33% of net. 33% of net is a fantasy in California. That will just barely get you a run down studio in a bad part of town on an engineer's salary.
- mikeokner 9y agoThat doesn't make the target wrong, it just makes CA's market absurd.
- davidjnelson 9y ago33% of net is attainable on a new townhouse in nice neighborhoods in San Jose if you make a market rate salary.
- mikeokner 9y agoYeah I thought so too, but it sounds like the 30% of gross is a federal guideline - https://www.hud.gov/program_offices/comm_planning/affordablehousing/ https://www.hud.gov/program_offices/comm_planning/affordable... - http://nlihc.org/library/wagecalc http://nlihc.org/library/wagecalc
- guelo 9y agoThe most mind blowing thing in my mind is the absolute windfall that landlords have received over the last 10 years while the local communities get zero benefit from it because Prop 13 means property taxes stay flat. If the landlord is from out of state California doesn't even get a cut of their income/corporate taxes. All that insane rent money just gone while our infrastructure crumbles.
- polock 9y agoSan Antonio. I have a home there. The mortgage is 800 and I rent it or for 1500. There are several military bases around, so there are always people looking for temporary housing. https://us.teamblind.com/article/where-is-a-good-place-to-buy-a-investment-home-jttecFDj https://us.teamblind.com/article/where-is-a-good-place-to-bu...